stock split, stock recommendation

Begin Part 3 of 3

WATCHLISTS:

PRE-ANNOUNCEMENTS WATCHLIST: AROW, LE, LSTR, MUR, PDCO, SLM, STU and XL.

CTAS ($55.11; +0.09): Researching a date. Great breakout move, and today it gapped up but pulled back intraday on lower volume (1.4m). Still looks good on the breakout, and watching for CTAS to hold 54.

BRL ($65.23; -1.38): After the big fall BRL bounced back with the market rally, but is still stymied below the 50 day MVA (67.53), having dropped back from that level again today. We can still look at a put on a drop through 64 on increased volume (466k today), with August $70 puts to buy (BRL TN).

BER ($58.04; -0.55): Forecast to announce a split at the annual shareholder meeting on 5-14-02 at 2:30 ET. Continued back, now just over the 50 day MVA (57.61). Looking for it to hold going into the forecast, coming back after that recent, impressive move with earnings.

MGA ($72.29; -1.85): Did not get the announcement, and MGA dropped back through the 50 day MVA (72.53) on strong selling volume (790k). Not hanging around with any remaining positions.

BMS ($55.04; +0.06): We are researching a date. Now showing a double bottom after its recent surge. Keeping an eye on it to see if it forms a handle and sets up an upside play.

MHK ($64.36; -0.66): Forecast to announce a split at its May 16 shareholder meeting.
After pulling way off of its Monday high (68.45) to close, MHK has dropped back and is now right at the 18 day MVA. The selling was on low volume, so we are looking for a hold to set up a move going toward the split.

MEG ($68.02; -0.41): Forecast to announce a split on 5-24-02 in conjunction with its annual shareholder meeting. Still showing an ascending wedge, but the move up Wednesday was weak. It dipped back slightly today, but if it can hold we will still look for a breakout. 69.59 on volume of 110,000. Stop: 64.90. Stock only.

BBBY ($35.14; -0.26): Researching a new date. Has tanked back, but rebounded from the 50 day MVA (63.75) with strength. Today it gapped back to show a tight 'star' doji. We will see if it can hold.

PRE-SPLITS WATCHLIST: Watching WTSLA (5/10), IFNY (5/14), GTK (5/24), IFIN (6/14), MI (6/15), PMI (6/18), RYL (5/31), SU (5/23), FBC (6/21) and GG (TBA).

ANN ($48.17; +2.02): Splits 3:2 effective 5-21-02. Bounced nicely from the 50 day earlier this week, and today blasted to a new high, with volume spiking way up to 2.34m (avg. 622k). Riding toward the initial target of 50. We will see how strong the move is as it hits 50.

ZRAN ($33.95; -2.67): Splits 3:2 effective 5-23-02. Big move in the rally Wednesday, closing back at the resistance of its 50 day MVA (36.56). We did not expect the move to continue, and it gapped back today, retesting the 50 day but dropping back to close. We will see how it handles the 200 day (33.13), and will ride a move through that level, looking to hold on weakness. We may not get the put play, but we are looking for getting as much back as we can.

FAST ($83.65; -0.11): Splits 2:1 effective 5-13-02. Could not continue the move, gapping up and reversing Wednesday, but holding support over the 18 day MVA (82.76) with a doji today. We will not hold through a breach of the 18 day, and will carefully hold through the split. Continued up today as volume remained strong at 473k. Hit the buy point, and we are looking for a continued move, targeting 95.

IFNY ($18.27; +0.02): Splits 2:1 effective 5-14-02. Hit the buy point today but could not continue the move pulling back a bit. Still in a promising pattern, but moving in toward the split date. The aggressive can look at a move over 18.95, with stock.

UPC ($49.73; -0.30): Splits 3:2 effective 6-7-02. Has not done much in this consolidation, but after gapping down today it recovered from the low of 49.38 to show a doji on strong volume (501k; avg. 423k). Looks like a bounce, and the buy point for a breakout is 50.68 on volume of 460k, with August $47.50 calls to buy (UPC FW). Stop: 48

RNR ($113.25; -2.53): Splits 3:1 effective May 31. Has fallen back, and gave up the 18 day MVA (114.42). Not good, and exiting remaining positions if there is no quick recovery.

PNRA ($68.01; -1.27): Splits 2:1 effective June 25. Dipped back much harder Wednesday, a stock that was ignored as money chased the downtrodden in the rally. It gapped back today and showed a doji just under the 18 day (68.37). This is further than we would like to see the drop, and are looking for a hold here and a set up for another play.

FULT ($24.89; -0.02): Splits 5:4 effective 5-21-02. Has pulled back, but is holding well over the 50 day MVA (24.51). We will see if it can hold, looking for a solid run.

CONTINUING CANDIDATES WATCHLIST: When splits are not announced, we will keep the best split prospects on the report rather than continue to carry all of them in case there is a an unexpected announcement. We will continue to monitor the stocks that are trimmed and add them again when we ascertain a revised split announcement date. These include ACDO, AHC, CPS, CYN, DHR, DIAN, DRYR, ESI, ETH, ETN, EXPD, FITB, GOSHA, INVN, JCI, KRB, STI, TGH, THC and TGIC.

ASD ($75.50; +0.35): Not doing much, easing up along the 18 day MVA (74.19) on low volume. Holding existing positions, exercising care from a breach of the 18 day.

AZO ($76.28; -1.04): Gapped up Wednesday in its handle, pulling back but holding support for now at the 10 day MVA (76.16). Could need some more time to consolidate and form a better handle,

KLAC ($57.50; -1.00): The bounce was strong as expected, rising from the 200 day MVA (52.56), but unable to hold over the 18 day MVA (58.82). Protecting profits, as we could see a drop off the loose doji.

MTG ($71.11; -0.74): Made a good bounce from the 50 day (69.69) recently, but lost steam and is holding on in a lateral consolidation over the 18 day MVA (71.34). Looking for a hold and a bounce to resume the move, targeting 80. The aggressive can look at a move over 73 on volume of 700k, with June $70 calls to buy (MTG FN).

RCII ($58.66; +0.07): Made a big gapping breakout with earnings, but has dropped back a bit out of its lateral consolidation formed off the breakout. Protecting profits.

RUS ($36.60; -0.40): Great breakout but we are protecting profits at this point, with the 10 day MVA just below at 36.35. After such a strong move we do not want to lose the gains.

SRCL ($72.50; -0.91): SRCL powered up to a new all-time high of 73.85 last week. Protecting profits on short-term positions, but on a pullback will look for continued low volume and a hold of 70 (10 day at 70.55). March highs are at 68.

STJ ($83.14; -0.49): Holding on the pullback at the 10 day MVA (82.81), moving on light volume. Decent action, and holding remaining positions but wary of a drop back, and it should not drop through 82.

YUM ($63.66; -0.01): Announced a 2:1 stock split Tuesday, effective June 18! Has been steadily trending up, encountering a bit of resistance at the April highs at 64. We could get a test back to the 18 day (62.40), and we could look for it to set up for positions from there, with the news of the stock split behind it.

POST SPLITS WATCHLIST: Watching ACS, AMAT, APOL, DF, ICUI, MKC, OPTN, SONC, UOPX and WLP.

MCHP ($29.60; -1.23): Split 3:2 effective 5-9-02. After hitting the put buy point intraday Tuesday, MCHP was caught in the reversal Wednesday. It tried the Wednesday high today, but dropped back today. We are looking for a move back toward the 50 day MVA (28.34), but we might not get a better exit point than that, as it has been strong support.

CHS ($36.21; +0.02): Continued blasting up, with volume even stronger today (1.4m; avg. 573k). Target 44.

JEC ($42.24; -0.34): Made a big gapping move in the rally, holding today on lower volume with a second consecutive doji. Continuing to ride positions toward the target of 44.

PFCB ($37.80; 0.00): Split 2:1 effective 5-2-02. Made a nice breakout on the split, but is not doing much now. Riding positions on a lower-volume test of support (prior consolidation highs at 37 and 18 day MVA at 36.74).

PRHC ($23.70; -0.58): Split 3:2 effective 5-1-02. Struggling a bit to hold the 18 day MVA (23.84) here, testing the breakout. Volume has been light, but we do not want to ride it if it continues to bleed down.

WTNY ($37.21; -1.31): Split 3:2 effective 4-10-02. Has made a great move, but telegraphed the pullback as the move lost momentum and showed a 'hanging man' doji Wednesday. Dropped back, but on lower volume Thursday. Looking for it to hold prior highs, with the 18 day MVA (36.65).

Good Investing!
Jon L. Johnson and the Stock Split Report Staff.

All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners of Online Investment Services, LP or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.

stock split
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